Albania’s Construction Sector Exposed as Major Money Laundering Route

The construction industry in Albania has emerged as a significant conduit for organized crime groups to launder their illicit earnings. According to high-ranking officials and experts, this phenomenon is not new but has been gaining attention in recent times.

A Growing Concern: The Role of the Construction Industry in Money Laundering

Lutfi Minxhozi, Chair of the Economic Crime department at the Albanian State Police, shed light on the issue in a recent interview with Euronews Albania’s investigative documentary series ‘Unpublished’. He noted that criminal groups have been focusing on construction as a means to legitimize their activities.

The Scale of the Problem

• Between 2013 and 2020, Albanian authorities seized approximately €320 million earned through illicit activities, according to official reports from the State Police’s Directory of Economic Crime.
• The Bank of Albania has confirmed that Albania poses a significant risk in terms of money laundering practices, earning it a spot on the grey list for this type of activity.

The Consequences: Vulnerability to Money Laundering

This development has raised concerns about the country’s vulnerability to money laundering. The construction sector’s lax regulations have created opportunities for criminal groups to funnel their profits into seemingly legitimate businesses. As a result, Albania continues to struggle with the issue of financial transparency and accountability.